Bursa Alert
Global Market
NewsHot Stock Astro rises 3% despite US$20b claim statement
Page 1 of 1
Hot Stock Astro rises 3% despite US$20b claim statement
by hlk Fri 26 Apr 2013, 10:42
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Friday, 26 April 2013 10:19
A + / A - / Reset
KUALA LUMPUR (April 26): Astro Malaysia Holdings Bhd shares rose
as much as 10 sen or 3.48% to RM2.97 despite news of the pay TV
giant being served a statement of claim amounting to US$20 billion
(about RM61 million).
At 9:55am, Astro pared gains to RM2.94 on a volume of 4.04 million
shares. The stock was the fifth most-active entity across the bourse.
Yesterday, Tan Sri Ananda Krishnan-controlled Astro said in an
exchange filing that PT Direct Vision of Indonesia (PTDV) had served a
statement of claim against Astro and subsidiary Measat Broadcast
Network Systems Sdn Bhd.
PTDV is a unit of Indonesian conglomerate Lippo Group founded by
tycoon Mochtar Riady.
PTDV served the statement of claim for “immaterial loss” resulting from
a dispute that dated from 2008 over the proposed direct-to-home pay
TV business in Indonesia.
A statement of claim is an official court document completed by a party
which thinks it is owed money.
Astro said it has been advised by its lawyers in Indonesia that PTDV’s
claim against Measat is not supported with valid grounds and the
quantum of damages sought is unjustifiable.
Written by Kamarul Anwar of theedgemalaysia.com
Friday, 26 April 2013 10:19
A + / A - / Reset
KUALA LUMPUR (April 26): Astro Malaysia Holdings Bhd shares rose
as much as 10 sen or 3.48% to RM2.97 despite news of the pay TV
giant being served a statement of claim amounting to US$20 billion
(about RM61 million).
At 9:55am, Astro pared gains to RM2.94 on a volume of 4.04 million
shares. The stock was the fifth most-active entity across the bourse.
Yesterday, Tan Sri Ananda Krishnan-controlled Astro said in an
exchange filing that PT Direct Vision of Indonesia (PTDV) had served a
statement of claim against Astro and subsidiary Measat Broadcast
Network Systems Sdn Bhd.
PTDV is a unit of Indonesian conglomerate Lippo Group founded by
tycoon Mochtar Riady.
PTDV served the statement of claim for “immaterial loss” resulting from
a dispute that dated from 2008 over the proposed direct-to-home pay
TV business in Indonesia.
A statement of claim is an official court document completed by a party
which thinks it is owed money.
Astro said it has been advised by its lawyers in Indonesia that PTDV’s
claim against Measat is not supported with valid grounds and the
quantum of damages sought is unjustifiable.
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Similar topics» Astro’s unit loses Jakarta appeal to claim US$303m arbitration award
» Hot Stock Wintoni slumps 12.5% on failure to submit financial statement
» Update Astro 2Q profit rises 5%, pays 2 sen dividend
» Highlight Astro’s 3Q profit rises 4.8% yoy to RM123.7m, declares 2 sen dividend
» Highlight Astro 4Q profit rises 34% to RM111m, pays 3 sen dividend
» Hot Stock Wintoni slumps 12.5% on failure to submit financial statement
» Update Astro 2Q profit rises 5%, pays 2 sen dividend
» Highlight Astro’s 3Q profit rises 4.8% yoy to RM123.7m, declares 2 sen dividend
» Highlight Astro 4Q profit rises 34% to RM111m, pays 3 sen dividend
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum